24 May 2022

FORTERRA PLC

Board change

Stephen Harrison has informed the Board of his intention to step down as Chief Executive Officer.  Stephen will remain with the Company until the first half of 2023 allowing time both to commission the new Desford brick factory and support an orderly transition.  The Board is commencing a process to appoint a successor and will provide an update in due course.

Justin Atkinson, Chairman, commented: "It has been a pleasure to work with Stephen since the IPO of the business and I would like to thank him both personally and on behalf of the Board for his significant contribution to Forterra during that time. He will leave the business with a clear strategy, a strong balance sheet and an experienced management team. My colleagues and I wish him all the best for the future"

Stephen Harrison commented: "After ten years in my current role, now is the right time for a change.  I am proud to have led the Company on its journey from non-core asset of a large corporation, through private equity ownership and IPO to be the successful independent business that Forterra is today.  Forterra's strategy is clear and well-advanced, benefiting from strong cash generation to deliver a compelling organic investment pipeline.  I wish everyone at Forterra every future success and look forward to working with the Board to ensure a smooth transition to my successor."

The Company has also released its AGM trading update this morning reporting a continuation of strong trading conditions and an upgrade in the Board's expectations for the year. 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014.

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Richard Mountain / Nick Hasell